• Sonntag, 22 Dezember 2024
  • 04:51 Uhr Frankfurt
  • 03:51 Uhr London
  • 22:51 Uhr New York
  • 22:51 Uhr Toronto
  • 19:51 Uhr Vancouver
  • 14:51 Uhr Sydney

Northgate Minerals Announces Retirement of President and CEO Ken Stowe

10.05.2011  |  CNW

VANCOUVER, May 10 /CNW/ --
VANCOUVER, May 10 /CNW/ - Northgate Minerals Corporation ('Northgate' or
the 'Company') (TSX: NGX) (NYSE Amex: NXG) today announced that its
President and Chief Executive Officer (CEO), Ken Stowe, intends to
retire on the appointment of his successor.  Mr. Stowe joined Northgate
in 1999 and has been CEO since 2001. Mr. Stowe shared his retirement
plans now to provide ample time to complete the recruitment and hiring
process. A search will be conducted with the goal to select and
transition to a new President and CEO by the end of 2011. The Board has
designated the Corporate Governance and Compensation Committee, chaired
by Mark Daniel, to oversee a comprehensive search process to identify
Ken's successor, taking both internal and external candidates into
consideration.


Terry Lyons, Chairman, said: 'The Board is very appreciative of the
contribution Ken has made during his time at Northgate.  He has
overseen the growth of the Company, the development of Kemess into one
of the most efficient and prolific gold and copper mines in the world
and, in Young-Davidson, the establishment of another strong core asset
for the Company. He has also developed an excellent executive team that
will build on his accomplishments and continue to strengthen Northgate.
I would like to take this opportunity to thank Ken for all that he has
done for the Company over the last twelve years.'


'Ken remains in full control of the business until a successor is
appointed. This will ensure continuity of strong management and will
support the achievement of our strategic objectives while arrangements
are made to find his successor.'


Ken Stowe, Chief Executive Officer, added:  'It has been a privilege to
lead Northgate and to work alongside some of the most talented and
capable people in the industry. As I approach the tenth anniversary of
my tenure as CEO, I believe that the time is right to plan for my
retirement. The Company now has an exciting and excellent portfolio of
assets, and a strong platform from which we plan to grow further and
build towards the future.'


During his distinguished career, Mr. Stowe has served as Vice President,
Technology of Diamond Fields Resources, where he was responsible for
the feasibility study of the Voisey's Bay nickel-copper deposit and as
Vice President, Operations of Westmin Resources, where he oversaw the
successful startup of the Lomas Bayas copper mine in Chile. He then
moved on to Northgate to take on the significant challenge of
re-launching the Company as an operating entity through the turnaround
of the then recently-commissioned but floundering Kemess South
gold-copper mine. Kemess South ultimately became one of the lowest cost
gold mines in the world.  In 2006, Mr. Stowe was the recipient of the
prestigious Canadian Mineral Processor of the Year Award.


Northgate Minerals Corporation is a gold and copper producer with mining operations, development
projects and exploration properties in Canada and Australia.  Our
vision is to be the leading intermediate gold producer by identifying,
acquiring, developing and operating profitable, long-life mining
properties.


Cautionary Note Regarding Forward-Looking Statements and Information:


This Northgate press release contains 'forward-looking information', as
such term is defined in applicable Canadian securities legislation and
'forward-looking statements' within the meaning of the United States
Private Securities Litigation Reform Act of 1995, concerning
Northgate's future financial or operating performance and other
statements that express management's expectations or estimates of
future developments, circumstances or results. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as 'expects', 'believes',
'anticipates', 'budget', 'scheduled', 'estimates', 'forecasts',
'intends', 'plans' and variations of such words and phrases, or by
statements that certain actions, events or results 'may', 'will',
'could', 'would' or 'might' 'be taken', 'occur' or 'be achieved'.
Forward-looking information is based on a number of assumptions and
estimates that, while considered reasonable by management based on the
business and markets in which Northgate operates, are inherently
subject to significant operational, economic and competitive
uncertainties and contingencies. Northgate cautions that
forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause Northgate's actual
results, performance or achievements to be materially different from
those expressed or implied by such information, including, but not
limited to gold and copper price volatility; fluctuations in foreign
exchange rates and interest rates; the impact of any hedging
activities; discrepancies between actual and estimated production,
between actual and estimate reserves and resources or between actual
and estimated metallurgical recoveries; costs of production; capital
expenditure requirements; the costs and timing of construction and
development of new deposits; and the success of exploration and
permitting activities. In addition, the factors described or referred
to in the section entitled 'Risk Factors' in Northgate's Annual
Information Form for the year ended December 31, 2010 or under the
heading 'Risks and Uncertainties' in Northgate's 2010 Annual Report,
both of which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this
press release. Although Northgate has attempted to identify important
factors that could cause actual results, performance or achievements to
differ materially from those contained in forward-looking information,
there can be other factors that cause results, performance or
achievements not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate or that
management's expectations or estimates of future developments,
circumstances or results will materialize. Accordingly, readers should
not place undue reliance on forward-looking information. The
forward-looking information in this press release is made as of the
date of this press release, and Northgate disclaims any intention or
obligation to update or revise such information, except as required by
applicable law.



To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2011/10/c2909.html

Ms. Keren R. Yun
Director, Investor Relations
Tel: 416-216-2781
Email: ngx@northgateminerals.com  Website: www.northgateminerals.com



Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!



Mineninfo
Northgate Minerals Corp.
Bergbau
-
-
Copyright © Minenportal.de 2006-2024 | MinenPortal.de ist eine Marke von GoldSeiten.de und Mitglied der GoldSeiten Mediengruppe
Alle Angaben ohne Gewähr! Es wird keinerlei Haftung für die Richtigkeit der Angaben und der Kurse übernommen!
Informationen zur Zeitverzögerung der Kursdaten und Börsenbedingungen. Kursdaten: Data Supplied by BSB-Software.